I think an opportunistic bid right now would have to be in the...

I think an opportunistic bid right now would have to be in the $3.50 - $4 range.

If there was a low ball offer, then the board would likely reject it.

It may also bring another potential suitor out of the woodwork if they think there could be synergies they could leverage also.

Production is expected to be between 460k and 520k OZ from Duketon and Tropicana for this year.

That jumps up to more than 700k OZ when McPs comes online.

McPs approvals are "imminent" with the DFS due any day now (it was expected in August), and Govt approval slated for this year, but I think likely early next year - so some time in the next 6 months to manage expectations.

There is also a high probability of an upgrade in reserves at both Duketon and Tropicana.

I think 700k OZ per annum of production has to be worth $6.50 per share, so let's say 3 years away - even with "all of the additional shares" from the Tropicana purchase.

Of course this is all dependent on price of gold. Some people think it will go down, others think it will go up, but even if it stays the same in AUD terms - meaning POG could go down, but this could be mitigated by a fall in the AUD, then we should be in a pretty good position as all of our operations are in Australia.

We can't discount the possibility of the share price going down in the near term however. How low? No idea, but if it goes to $1.70, I'll be scratching my head and rubbing my hands (and crying at my paper losses each time I look at my portfolio)